This is Turov on Timing for Thursday, December 6, 2007.
The SPX advanced 22.22 points yesterday to close at 1485.01. TOT daily traders went 400% long early in the morning and took profits at SPX 1480.
TOT daily traders have outperformed the SPX in 17 of the past 22 weeks.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 10255.86 cumulative SPX points, compared to a gain of 1026.08 points in the index itself over the same period. That’s a ratio of 10.00 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
The intermediate term model remains bearish. The direction of least resistance remains up, but the potential magnitude of any major move is down.
I expect a mixed session today, with the market looking up in the morning and then selling off as the session progresses. Stand aside for the time being. If the SPX is down at 10:45 a.m. Eastern time, go 300% short at the market at that time. If you go short, use a 10 point protective stop on the position. If not stopped out, carry your position overnight and into tomorrow. If the SPX is up at 10:45, then stand aside for the balance of the day.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2007 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. All caveats and advisories that appear in the monthly Turov on Timing apply equally to this email. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc.